It concerned me that FTX’s Chief Regulatory Officer, Daniel Friedberg, was known for being involved in a previous poker scandal. There’s audio of him advising his clients to make up a story about how they were victims of the scam they pulled on others so that they could minimize the fines.
[Daniel] Friedberg advises Hamilton to not only claim he was also a victim of the cheating – “otherwise it [the concocted cover-up tale] is not going to fly” – but also to put out a story that “a former consultant to the company, uh, took advantage of a server flaw by hacking into the client.”
The people at the meeting – Hamilton, Friedberg, Ultimate Bet founder and CEO Greg Pierson, and Friedberg’s fellow UB attorney Sanford Millar – also discussed how much it was going to cost them to repay players and regulatory fines.
“If we could get it down to five, I’d be happy,” says Friedberg, advising his fellow cover-up members that it was a realistic figure “depending how creative we get.”
It concerned me that FTX’s Chief Regulatory Officer, Daniel Friedberg, was known for being involved in a previous poker scandal. There’s audio of him advising his clients to make up a story about how they were victims of the scam they pulled on others so that they could minimize the fines.